vs Last Week
−0.05 pts
Following short Treasuries lower.
6-Month CD Rate
National Average · Treasury Proxy
4.32%
-0.02 pts vs. yesterday
Past 12 monthsRange 4.30 – 5.25
vs Last Year-0.85
5-Yr Avg2.85%
vs HYSA+0.02
6-month CD rates are down 85 bps from a year ago. Locking in 4.32% now protects against further Fed cuts — but only if you can afford a 6-month lock-up.
Historical trend
Daily 6-month Treasury yield as CD proxy.
Source: FRED · DGS6MO
The long view: since 1981
From 15% to near zero — and back.
Peak 15.80% · Aug 1981Trough 0.32% · 2020Today 4.32%
How today stacks up
vs Last Year
−0.85 pts
From 5.17%. ~$43/yr less per $10K.
5-Yr Avg
2.85%
Today 147 bps above mean.
vs HYSA Today
+0.02 pts
Essentially tied — choose by liquidity needs.
Use this rate
Tools to plan a CD strategy.
About the 6-Month CD Rate
A Certificate of Deposit (CD) is a time deposit at a bank where you commit to keeping money locked up for a set period in exchange for a guaranteed yield. The 6-month CD is the shortest commonly-offered CD term — a sweet spot between liquidity and yield. This tracker shows the 6-month constant-maturity Treasury yield, which closely tracks what banks pay on 6-month CDs (typically within 25 bps).
Why CDs vs HYSAs vs T-bills?
CDs lock in today's rate even if the Fed cuts. HYSAs are fully liquid but their rates float down with the Fed. T-bills offer the safest yield + state-tax exemption but require minor purchase mechanics. At today's 4.32%, a 6-month CD will pay roughly the same as a top HYSA — the main reason to choose one is rate certainty. If you expect HYSAs to drop to 3.5% by year-end, locking 4.32% for 6 months becomes attractive.
Reading this chart
The 2020–22 era of near-zero CD yields is over. The 2022–24 hike cycle pushed 6-month CDs to 5.45% peak. Today's 4.32% is below that peak but well above the 2.85% 5-year average. Most banks offer "promo" rates 50–100 bps above the national average for new money — shop around.
Related trackers
Other live numbers that move with — or against — this one.
Frequently asked
What this number means, and what it doesn't.
Typical: 90 days of interest on 6-month CDs, 6 months on 1-year+ CDs. Some banks (like Ally) have no-penalty CDs at slightly lower rates. Read the specific terms before committing.
Fully taxable as ordinary income (federal + state). Treasuries are exempt from state tax, which can give them an edge for high-tax-state residents. CD interest is taxed in the year it accrues, even if you haven't withdrawn it.
Split your investment across multiple CDs with staggered maturities (e.g., 25% each in 3-, 6-, 9-, 12-month CDs). As each matures, reinvest at the longest term. You get liquidity every 3 months while earning the longer-term rate on most of your money.
Effectively yes for amounts under $250K. FDIC covers $250K per depositor per bank. Above that, Treasuries are safer (no limit, backed by full faith and credit of the US government). For large sums, split across multiple banks or use Treasuries.
Methodology
Source
Pulled from FRED · DGS6MO and cached on the EvvyTools server.
Update schedule
Refreshed automatically by our cron whenever the upstream source publishes a new value. Historical values are not revised after publication.
How we compute
Display value is the raw published number, unrounded. Comparison stats use the closest available reference date. We never edit the underlying data.